Advantest, Alps, Hino Motors, IHI, Mitsubishi Heavy, Toho: Japanese Stocks
Japan’s Nikkei 225 Stock Average rose 251.33, or 2.3 percent, to 11,165.79 at the close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Advantest Corp. (6857 JT) rose 3 percent to 2,476 yen. The maker of chip-testing equipment may post a 1 billion yen ($10.6 million) group operating profit for the three months ended in March, which would be the first profit since the last quarter of 2007, Nikkei English News reported. Advantest said it is not the source of the information.
Alps Electric Co. (6770 JT) gained 3.8 percent to 704 yen, its highest close since October 2008. The maker of auto electronics devices had a full-year net income of 100 million yen on higher than expected demand, according to a preliminary earnings statement. The company had forecast a net loss of 7.5 billion yen.
Astellas Pharma Inc. (4503 JT) increased 2.1 percent to 3,390 yen after the drugmaker said it extended the deadline on its $3.5 billion offer for OSI Pharmaceuticals Inc. (OSIP US) to May 17.
Fanuc Ltd. (6954 JT) rose 3.8 percent to 10,470 yen after the industrial robot maker was rated “overweight” in new coverage by Hirotaka Wada, a Tokyo-based analyst at JPMorgan Chase & Co.
FCC Co. (7296 JT) gained 2.4 percent to 1,770 yen after the clutch maker was rated “neutral” in new coverage by Hirokazu Miyagi, an analyst at Daiwa Securities Group Inc.
Goldcrest Co. (8871 JT) fell 2.1 percent to 2,620 yen. The condominium developer’s full-year net income fell more than expected to 900 million yen due to inventory asset devaluations, according to a preliminary earnings statement. The company had forecast a 4 billion yen profit.
Hachijuni Bank Ltd. (8359 JT) advanced 4.8 percent to 550 yen, the sharpest increase since April 2009. The regional lender said in a preliminary earnings statement full-year net income totaled 16.9 billion yen, 28 percent more than its forecast, citing less than expected credit costs. The bank raised its planned year-end dividend to 3.5 yen a share from 2.5 yen.
Hino Motors Ltd. (7205 JT) jumped 6.3 percent to 439 yen, its highest close since September 2008. The automaker raised its fiscal 2015 global sales target to 220,000 vehicles a year, 20,000 units more than an earlier plan, the Nikkan Jidosha newspaper reported.
IHI Corp. (7013 JT) surged 6.8 percent to 172 yen, while Toshiba Corp.?(6502 JT) increased 2.4 percent to 545 yen. The companies will form a venture to make core components for nuclear power plants, Nikkei English News reported.
Jafco Co. (8595 JT) gained 5.7 percent to 2,900 yen. The venture-capital company said its full-year net loss narrowed to 2.18 billion yen from 17 billion yen a year earlier.
Kumagai Gumi Co. (1861 JT) soared 6.6 percent to 81 yen. The general contractor said in a preliminary earnings statement full-year net income amounted to 2.5 billion yen, beating its forecast by 67 percent.
Macnica Inc. (7631 JT) surged 6.2 percent to 2,104 yen, its highest close since January 2008. The distributor of semiconductors and electronic components said full-year net income was 1.77 billion yen, compared with 143 million yen net loss a year earlier.
Melco Holdings Inc. (6676 JT) jumped 7.6 percent to 2,545 yen, its highest close since August 2007. The maker of computer peripheral equipment said full-year net income jumped to 4.99 billion yen from 707 million yen a year earlier, buoyed by overseas subsidiaries.
Mitsubishi Heavy Industries Ltd. (7011 JT) gained 3.5 percent to 386 yen. The manufacturer will open a machine tool plant near Shanghai by the end of the year, the Nikkei newspaper reported.
Nissan Chemical Industries Ltd. (4021 JT) rose 4.3 percent to 1,315 yen. The maker of chemicals reported full-year net income of 12.7 billion yen, 18 percent more than its forecast, according to a preliminary earnings statement.
NS Solutions Corp. (2327 JT) advanced 5.3 percent to 1,933 yen, its highest close since July 2008, after the company was rated “buy” in new coverage by Satoru Kikuchi, an analyst at Deutsche Bank AG.
NTT Urban Development Corp. (8933 JT) rose 2.3 percent to 86,300 yen. The developer will acquire a majority stake in Premier REIT Advisors Co., which operates Japanese real estate investment trust Premier Investment Corp., Nikkei English News reported. NTT Urban said it is not the source of the information.
Oji Paper Co. (3861 JT) rose 2.3 percent to 443 yen. The papermaker said in a preliminary earnings statement its full- year net income was 24 billion yen, 20 percent more than forecast.
Otsuka Corp. (4768 JT) surged 8.1 percent to 7,050 yen, its highest close since September 2008, after the computer system developer was raised to “buy” from “hold” by Satoru Kikuchi, an analyst at Deutsche Bank AG.
Press Kogyo Co. (7246 JT) climbed 5.2 percent to 281 yen, its highest close since October 2008. The auto-parts maker said in a preliminary earnings statement that its full-year net loss was 3 billion yen, narrower than its forecast deficit of 3.95 billion yen, helped by cost cuts.
Shin-Etsu Chemical Co. (4063 JT) rose 2.4 percent to 5,450 yen. The Tokyo-based chemicals maker may report group pretax profit of 36 billion yen for the January-March period, topping a previous forecast, Nikkei English News reported.
Sumitomo Chemical Co. (4005 JT) jumped 5.7 percent to 462 yen. The producer of agrochemicals and fertilizers said in a preliminary earnings statement its full-year net income was 15 billion yen, 50 percent more than its previous forecast.
T-Gaia Corp. (3738 JT) climbed 5.6 percent to 153,500 yen after Daisaku Masuno, an analyst at Nomura Holdings Inc., raised its rating to “buy” from “neutral.”
Toho Holdings Co. (8129 JT) rose 6 percent to 1,505 yen, its highest close since September 2008. The wholesaler of medicine and medical tools said in a preliminary earnings statement full-year net income amounted to 8 billion yen, 46 percent more than its forecast, with rising sales.
Toto Ltd. (5332 JT) jumped 3.5 percent to 660 yen after Kazuya Takeuchi, an analyst at Mizuho Securities Co., increased its 12-month target price to 625 yen from 590 yen while maintaining his “underperform” rating.
Toyota Motor Corp. (7203 JT) rose 3.4 percent to 3,690 yen. The automaker will probably report as much as 50 billion yen profit for the year ended March 31, compared with its forecast for a 20 billion yen loss, after reducing costs and benefiting from a weaker yen, Nikkei English News reported.
United Arrows Ltd. (7606 JT) fell 2.9 percent to 1,110 yen. The apparel chain said in a preliminary earnings statement that full-year net income totaled 1.35 billion yen, short of its forecast by 31 percent, citing writedowns and store closures. Separately, Masumi Oishi, an analyst at Ichiyoshi Securities Co. cut its rating to “neutral” from “buy.”